Paloma Partners Management Co grew its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 275.0% during the 4th quarter, Holdings Channel reports. The firm owned 241,111 shares of the natural resource company’s stock after buying an additional 176,823 shares during the period. Paloma Partners Management Co’s holdings in Freeport-McMoRan were worth $4,572,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Advisor Partners LLC lifted its stake in shares of Freeport-McMoRan by 5.2% in the 4th quarter. Advisor Partners LLC now owns 52,835 shares of the natural resource company’s stock valued at $1,055,000 after purchasing an additional 2,610 shares during the last quarter. Wesbanco Bank Inc. lifted its stake in shares of Freeport-McMoRan by 19.8% in the 4th quarter. Wesbanco Bank Inc. now owns 17,615 shares of the natural resource company’s stock valued at $334,000 after purchasing an additional 2,911 shares during the last quarter. Point View Wealth Management Inc. lifted its stake in shares of Freeport-McMoRan by 17.0% in the 4th quarter. Point View Wealth Management Inc. now owns 21,554 shares of the natural resource company’s stock valued at $409,000 after purchasing an additional 3,135 shares during the last quarter. Grassi Investment Management lifted its stake in shares of Freeport-McMoRan by 6.1% in the 4th quarter. Grassi Investment Management now owns 62,800 shares of the natural resource company’s stock valued at $1,191,000 after purchasing an additional 3,600 shares during the last quarter. Finally, FDx Advisors Inc. raised its holdings in shares of Freeport-McMoRan by 14.2% in the 3rd quarter. FDx Advisors Inc. now owns 30,414 shares of the natural resource company’s stock valued at $427,000 after buying an additional 3,790 shares during the period. 69.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of Freeport-McMoRan Inc (NYSE FCX) opened at $18.56 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 1.37 and a debt-to-equity ratio of 1.04. Freeport-McMoRan Inc has a 1-year low of $11.05 and a 1-year high of $20.25. The firm has a market capitalization of $26,683.77, a PE ratio of 14.97 and a beta of 2.42.
Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 25th. The natural resource company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the business earned $0.25 EPS. Freeport-McMoRan’s revenue was up 15.2% on a year-over-year basis. equities analysts expect that Freeport-McMoRan Inc will post 2.31 earnings per share for the current year.
In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 21,500 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total transaction of $419,035.00. Following the sale, the vice president now owns 70,239 shares in the company, valued at approximately $1,368,958.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.29% of the stock is owned by corporate insiders.
FCX has been the topic of several research analyst reports. TheStreet upgraded Freeport-McMoRan from a “c” rating to a “b-” rating in a report on Thursday, January 25th. Clarkson Capital upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating in a report on Wednesday, January 17th. Zacks Investment Research upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Tuesday, November 14th. ValuEngine upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, Morgan Stanley upgraded Freeport-McMoRan from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $10.00 to $14.00 in a report on Monday, December 11th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Freeport-McMoRan presently has an average rating of “Hold” and an average target price of $16.75.
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Freeport-McMoRan Company Profile
Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
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